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Trump exploded at his Treasury secretary as he became petrified about the economy: report

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Steve Mnuchin whispering to Trump to sign the documents (Photo: Screen capture)

A new report from the Washington Post on Wednesday night found that President Donald Trump recently raged at Treasury Secretary Steve Mnuchin as he was gripped with fear about the potential economic damage of the coronavirus.

On Monday, Trump urged Mnuchin to pressure Fed Chair Jerome Powell — who the Treasury secretary reportedly encouraged the president to appoint to his current position — to do more for the economy. The Post called Trump’s direction to Mnuchin as an “explosive tirade.”

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Under Powell, the Fed has already announced an emergency interest rate cut, signaling that it will do more if the situation needs it. But rates are already quite low, leaving little room for the Fed to cut more. And the stock market has continued to plummet, suggesting that investors don’t believe the Fed’s actions will be enough.

Trump has repeatedly urged Powell to reduce interest rates in public even long before the coronavirus emerged, breaking with the traditional norm of Fed independence.

The Post explained:

On Monday, the Dow Jones industrial average fell more than 2,000 points, and it is down more than 5,000 points since Feb. 12. Trump has long seen a high stock market as one of his biggest achievements, and he has told voters that they should support his reelection because of it.

While Trump has long publicly clashed with Powell, Monday’s outburst was an “eruption” unlike many others due to the political and economic stress that has gripped the White House as the coronavirus spreads, one of the officials said. It caused some White House aides to worry that the president’s fury with Powell could lead to upheaval and economic woes if he continues to lash out at the Federal Reserve.

Though the law says Trump cannot fire Powell except under extreme circumstances, the Post noted that the president has previously considered demoting Powell from his position as chair while leaving him on the Fed board. It’s not clear if such a gambit would pass legal muster.

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2020 Election

Trump-Biden race could hinge on how this one Florida county swings

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Betty Jones voted for President Donald Trump in 2016, but the lifelong Republican has her doubts she will do it again this year.

The federal response to the coronavirus pandemic that has killed about 200,000 Americans and forced older adults to restrict their activities has her contemplating a leadership change.

It “makes me unsure,” said Jones, 78, of Largo, in Pinellas County, Florida. Before COVID-19, she said, she would have definitely voted for Trump.

Polls show that many people will have the pandemic and its public health and economic consequences on their minds when they cast their votes — whether by mail or in person — this fall. Early in-person voting starts Oct. 19 in most Florida counties, including Pinellas.

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2020 Election

Cindy McCain crosses party lines to endorse Joe Biden

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The widow of late U.S. Sen. John McCain plans to endorse Joe Biden on Wednesday, giving the former vice president another boost from a prominent Republican.Biden leaked Cindy McCain’s political plans during a fundraising call Tuesday evening.“Maybe I shouldn’t say it,” Biden told campaign donors, “but I’m about to go on one of these Zooms with John McCain’s wife, who is first time ever, is endorsing me.”The last straw for McCain was a report from The Atlantic saying Trump told staff that American soldiers killed in combat were “suckers” and “losers,” according to Biden.“Because of what he talk... (more…)

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2020 Election

‘They’ll get away with it’: Strategist explains how GOP federal judges will help Trump steal election

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President Donald Trump will remain in power if he narrowly loses the 2020 presidential election, with conservative judges poised to help him "steal" the election, a longtime Democratic Party strategist warned on Tuesday.

MSNBC anchor Brian Williams interviewed James Carville about the Supreme Court vacancy and how it could impact any legal wrangling about counting the votes.

"James, that's a pretty neat trick, the president is gaslighting out in advance voter fraud that he is promoting, ergo the need for nine justices on the court, which doesn't exist in law. The court has functioned just fine with eight during times of a death or a recusal," Williams noted. "Be that as it may, if Trump fills this seat before the election, in your view, how does that change the dynamic of the election?"

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